DailyPay Closes Transactions Totaling $175 Million; Company's Valuation Increases by 75%
/Leading fintech announces the close of a $75 million equity round and the $100 million expansion of an existing secured credit facility, with the incremental financing provided by Citi
Funds will be used to accelerate growth and expansion into adjacent categories and new markets
NEW YORK, Jan. 18, 2024 /PRNewswire/ -- DailyPay, the leading on-demand pay company, today announced it has secured over $175 million to fuel growth. The funding is divided between $100 million of expanded secured credit facility capacity provided by Citi and over $75 million in equity financing, which valued the company at $1.75 billion on a pre-money basis.